We Are Selling with Lee Woodward
We Are Selling is a weekly podcast about real estate, business and tackling life's challenges. Hosted by renowned real estate industry coach, Lee Woodward, learn from experts in their field and maximise your life.
We Are Selling with Lee Woodward
155 - Mastering The Listing Sequence with Lee Woodward
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Unlock the secrets to mastering the listing conversation in real estate with Lee Woodward in this solo episode of the We Are Selling podcast. Have you ever wondered how to transform your property consultancy skills and stand out as a professional agent? Lee walks you through the essential steps of the discovery process, from understanding your client's goals to crafting a compelling Property Improvement Plan that leaves a lasting impression. Along the way, you'll pick up invaluable tips on setting auction dates and preparing properties for sale, ensuring that you and your clients are ready to achieve optimal results.
Lee also dives into the intricacies of agent selection and marketing strategies, highlighting the importance of clear communication and strategic decision-making. Explore the various sales options, from traditional auctions to combination sales, and learn how to present marketing investments effectively. By the end of this episode, you'll be equipped with the tools to conduct listing conversations with clarity and confidence, elevating your real estate practice. Join Lee for this insightful session and transform your approach to property consultancy.
Hosted by Lee Woodward
Proudly brought to you by Lee Woodward Training Systems.
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Elevate your real estate business with Nexr – the strategic partner that helps you overcome challenges in securing more listings, building better teams, and achieving faster growth. With over 20 years of experience in developing Tier 1 agencies, Nexr provides bespoke solutions tailored to your unique needs. Ready to redefine the future of your business? Visit nexr.com.au today.
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Hello and welcome back to the podcast we Are Selling. My name's Lee Woodward, the author of the Complete Salesperson Course. Today's podcast is brought to you by our sponsor, nexar. Nexar is a dedicated real estate platform specializing in lead generation and database management of the entire real estate company for BDMs and agents. Working as one platform to generate opportunity, nexar seamlessly integrates into your business systems, allowing you to have an extended solution. Let's get started with this week's episode For today's podcast.
Speaker 1:I'm going to hit upon a request that's come in to discuss the best sequence for having the listing conversation, that moment where we give our property consultancy and selling plan to a consumer. In this audio I'm not going to interview anybody, I'm just going to take you through a coachable moment of one of my own sequences that allow you to get clarity on the topic and when we look at breaking anything down. Firstly, you've got to have segments to it. Decisions and planning is the first part of any consultancy and discovery of what goes on in a listing conversation. And then you want to move on to your proof points, the pre-marketing campaigns, and then, obviously, getting to that final part of getting to a decision and the results that you can achieve from your staged marketing approach, which is something we've discussed on the program many times. So I'm going to break it into 10 small segments and I'll tell you what you need to do in each segment. That way you'll have an understanding of the best way to have a listing conversation and remember.
Speaker 1:The art of questions become really important because questions get answers, statements get judged. Step one of our discovery process is where we find out their situation, and you may ask that question have you definitely made the decision to sell the property? And tell me about timing when would you like to be in your next home and for us to generate enough profit for you? It's very important we take the right approach, but would you like to set the date today of when your property would be sold? Out of dialogue for a moment. That's a wonderful way of discussing an auction date by using it as a date that the property would be sold, and that is a great Charles Tarby tip that came from his podcast and I absolutely love it.
Speaker 1:Number two is the property presentation, and this is where you want to be discussing decluttering the home, any paint or gardening furniture and the inspections and repairs that are required to get a finished product, and this is a really good one to break into, as the property improvement plan and the PIP or the property improvement plan is really where we show that difference, that expertise about working with a professional agent who will navigate the sale of your property. It's far more important than just whacking it on the net and see what happens. And you may even get into these conversations as we go to section three, section three or milestone number three. So milestone number one was what was your situation? Milestone number two still part of discovery is property presentation. Milestone number three agent selection and marketing method.
Speaker 1:Now this is where we'll discuss the options of sale. They have the opportunity to sell it with a ceiling price or a non-ceiling price, be it for sale or auction, or they may even want to run a combination sale, and a combination sale is where it may go to auction first up, be it a timed auction, a normal auction. But depending on the response from the marketplace, it may then just go for sale with a price on it on the third week. It doesn't always have to happen that way, but a combination sale is a technique depending on where you are in the country, for sale or auction is quite often or timed auction, timed sale, but what you've got to get across here is that these are their options of sale. Then you want to be discussing the selection of the agent. We'd love it to be us, but have you interviewed any other agents and is there any reason why you haven't gone ahead with them? And that's an amazing question to bring it all out in the open so that the terms and conditions can be discussed and then we can actually move into the investment. And I think it's really, really important that the investment in marketing and using the sale funding process that we have our options to now and having some great visuals or examples of your purchase, a booklet, your digital web book, just how the property would look if they go with you. One, two and three One what's your situation? Two property presentation. Three two and three One what's your situation? Two property presentation. Three agent selection and marketing method.
Speaker 1:Number four the property admin and creative development process. Very important when we discuss the behind the scenes work that we explain. We're a team-based business. Many of our team are involved, from the administration team, the trust account, the design team. There's so many things that we have to do to activate the property onto the market. Now some of you have seen my visual where it shows the 138 actions and a timeline for an owner and it just gives you that fee justification and allows you to discuss about preparing the contract tag, register, the keys book, the photographer consult the property presentation stylus, confirm the words for the showcasing that we're going to use. And this is where the vendor involvement process really becomes important, where we're asking the owner what do you feel is the invisible value, what do you think is going to be the best photos of your home? But admin and creative is an important part to discuss as part of the listing conversation. So that gives us one, two, three and four.
Speaker 1:Number five our direct selling campaign. The purchasing community is made up of many types of people. I'll just pause there out of dialogue, saying buyers we've got buyers just a little old-fashioned. We have a housing crisis, so helping people find a home is a positive thing. It's not a win or lose situation. So my terminology now is the purchasing community. The purchasing community is made up of established clients, investors, tenants. We get people from Facebook, linkedin, off the internet now portals, the media and then our national agent referral plan, where people from all over australia are changing states more than ever and they'll come through us as we take them through that process, and our visuals are to have a digital inspection. This is what goes to the purchasing community. The buyer book it, a VIP preview and then, obviously, our interactive signboard with the QR code. But this is a very important time.
Speaker 1:At number five, your direct selling campaign that you mentioned, staged marketing, and in staged marketing we have four campaigns. Campaign one is our VIP preview for all the followers that we have in our system that have inquired about a property like this before. Campaign two is social, and that's where we're going to have you post on social and us the link to the digital inspection. Campaign three will be our launch to the international portal of realestatecomau. And then campaign four is our street campaign. But that gives you a nice tight marketing channel and a good opportunity and if you've got some supporting visuals for this and this could be in your leave behind that document that I've discussed with many of you before and the ones that we've been building for people over the last year. So that gives us the first five big milestones and we're halfway through the conversation actually more than halfway through, because now we're just getting to this reporting stage.
Speaker 1:If we finished the marketing, we can now go to the market. This is where we get to milestone six review and respond. And review and respond is where we discuss improving the price, what offers we've had, the response, what withdrawn offers we've had and what we need to decide to do in our next stages. Then we've got our media and internet campaigns all launched, meaning realestatecom and portals, which moves us on to the advertising and inspection of the property in the street campaign. So in review number one, what's your situation? Two, property presentation. Three, agent selection. Four, property admin, creative and development, our direct selling campaign, which is our stage marketing. Six is review and respond. Seven media and internet campaign number two. Number seven is about going live to the portals.
Speaker 1:We've done these first six steps in the stage marketing because we want to work out that buyer engagement level. And then we go to number eight, which is our advertising and inspection. Advertising mean this is where it's going out to the streets editorial blogs, mailbox drops. We are doing the promotions of the campaign. With all that done, we can arrive at number nine, which is our offer and negotiation, and this is where the reporting part of the whole process is so important. And then 10, we discuss the owner, once we've exchanged the property, everything we have to do to make the property settle and I think a lot of owners think we just do one or two open houses, we get an offer and it's over, whereas an enormous part of our administration, compliance, is in the settlement process and we've got to make sure we have the right terms and conditions, the timing, the funds, the final inspections on the home and then the actual handover. And it just gives you a great understanding that there is a listing conversation and a sequence to it. So watch your situation property presentation, agent selection and marketing method, property admin and creative development, direct selling campaigns, review and respond, media, internet campaigns, advertising and inspections, offer negotiation and settlement, internet campaigns, advertising and inspections, offer negotiation and settlement.
Speaker 1:Now, it doesn't have to follow exactly that sequence, but my question that came in was Lee, can you give us an example of a sequence? Now I have a few different sequences and you have just listened to one Another. One is attract, engage and commit, which is just three steps to selling your property. And whichever one you choose, there's no right or wrong. But you understanding this is what I say in the right order and I don't just wing it and I don't miss anything out is what allows you to have a better, more professional, connective listing conversation. I hope that's answered our questions. That was coming in and for those of you that are coming along to the Complete Salesperson course as it tours nationally this year, and we are so looking forward to showing these actual visuals, the leave-behinds that we've been building for all different companies and the great things that are going on in the marketplace. And I've got to say the listing conversation has always been one of my favorite things to discuss.
Speaker 1:But as we see this better sequence coming in, one thing we're noticing with the sequencing is it's allowing us to declutter all the words that take up too much time, which means we're stripping it back. There's compression and I think that's what's winning business. And one thing I say at the Complete Salesperson course, which is very important. One of the number one reasons you can lose business is you overwhelm them and I think by having a sequence, they feel progressively like they are getting towards yes, and if you get yes on the night, wonderful.
Speaker 1:If you don't, we can always go back in with our plan, which is our replacement, word for proposal and using the Realtair products to send through our beautiful plan with our calendar of events and everything we promised in the presentation is a great way to have a beginning, middle and an end, and just to close off on that. The beginning is the digital introduction that we send to people. Two is when we go in with our lead behind and go through the sequence or the example sequence I've done today, and then, if needed, we send our plan, which is Latin for proposal, back at the end of the conclusion. That's it for today's podcast tip. We'll be back with our interviews next week. Thank you for listening. I'm Lee Woodward. Speak soon.